PODCAST

Wealth Formula Podcast

Buck Joffrey

Financial Education and Entrepreneurship for Professionals

business investing

All Episodes

56:36

242: Ask Buck Q4 2020 Part 2!

Wealth Formula Podcast ·

2020/12/13

It’s time for another round of “Ask Buck”. This week’s episode includes questions on Wealth Formula Banking, cryptocurrency, gold and real estate markets. Listen HERE!

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52:29

241: Ask Buck Q4 2020 Part 1!

Wealth Formula Podcast ·

2020/12/06

It's time for our next series of "Ask Buck" episodes. It used to be that we just did one of these every few months. But now we get so many questions that it has become a quarterly series! While all of our shows are educational in nature, the nice thing about the "Ask Buck" shows is that material is highly focused on practical information and strategy applicable to most investors. These shows have become extremely popular over the years and, if you are new to the Wealth Formula community, are

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48:22

240: A Million Dollars a Month with Rod Khleif!

Wealth Formula Podcast ·

2020/11/29

What if you were in a 747 jet airplane traveling 500 miles per hour. You could get to where you want to be pretty quickly. But what if you didn’t know where you wanted to end up? Well, then it wouldn’t do you much good to move at 500 miles per hour. In fact, depending on where you ultimately want to end up, it could end up making your journey take much longer than if you just walked directly there to start! The point is that it doesn’t really matter how much energy you have or how hard you work if

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50:46

238: THE NEED FOR SPEED: The Western Wealth Way!

Wealth Formula Podcast ·

2020/11/15

Wealth Formula does, in fact, have a mathematical formula behind it. Wealth=Leverage(MassxVelocity) I believe the key to building your wealth is behind maximizing each one of these variables. Mass is simple. It’s how much money you invest. If you have more money to invest then you are going to create more wealth. Leverage is critical. Despite what some popular personal finance gurus say, significant wealth creation is almost impossible without the judicious use of debt. It serves to amplify your

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40:39

237: Is Angel Investing Right for You?

Wealth Formula Podcast ·

2020/11/08

Boring is good. Beware of shiny objects. When it comes to investing, those are the words that I generally live by. When I keep true to this wisdom, I don’t generally lose money. Now that doesn’t mean I have never lost money! Remember, before I became a boring domestic real estate guy, I was a flaming entrepreneur! I acted on every good and bad idea that I had. I made millions of dollars with some of those startups while losing most of it with just a few bad decisions. It was exciting—but not all

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39:37

236: Will Technology Lead to Deflation? Jeff Booth

Wealth Formula Podcast ·

2020/11/01

In 1798 Thomas Malthus published a theory that predicted that human population growth would eventually outpace food production and thereby push living standards backwards. He based this on a simple mathematical observation that human population was growing at an exponential rate while food production growth was linear. While Malthus’ theory was mathematically sound, it did not take into account that which it could not predict. Malthus had no way of knowing the impact of the industrial revolution and

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41:02

235: Cashing in with Cash Machines!

Wealth Formula Podcast ·

2020/10/25

We live in interesting times: a global pandemic, a recession and a divided country heading into an election year. Anyone who says they know for sure which way the economy is headed for sure in the next six months is lying. So, what can we do now to prepare for an uncertain future? Well, that’s what being a sophisticated investor is all about. We have been very fortunate that our portfolio is heavy on working class apartment buildings and self-storage in rapidly growing, landlord friendly states

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46:14

234: What You MUST Know about Estate Planning!

Wealth Formula Podcast ·

2020/10/18

Estate planning is by far and away the most ignored topic amongst the high paid professionals with whom I talk to every day. First of all, it’s not a very sexy issue. Who likes talking about dying anyway? It’s kind of a buzz kill. But I got news for you…eventually you are going to die and you probably won’t get to pick when. Remember—I’m a doctor so I’m qualified to make this statement! The other hesitation many have when it comes to estate planning is that it often requires the concept of gifting

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01:16:43

233: Tom Wheelwright: Change Your Tax By Changing...

Wealth Formula Podcast ·

2020/10/11

It’s not what you make but what you get to keep. Think about that for a second. If you are a physician in California that makes $500K per year, do you really make $500K per year? No you don’t. With combined state and federal taxes, you make half of that. The Federal government and the State of California made the other half. Believe me, I’ve been there. I spent the first year after residency as a W2 employee and it’s painful. I’ve illustrated how painful this is to my children by getting an ice

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42:27

232: Real Estate Volatility Ahead?

Wealth Formula Podcast ·

2020/10/04

We are now just a few weeks away from a presidential election. Ordinarily that is, in and of itself, a wildcard for the economy. People tend to freeze up in times of uncertainty. Factor in some kind of October surprise which would not surprise me, on-going COVID-19 fall-out and decreases in government support and who knows what happens next. If you are in our , you have fortunately been shielded from having to worry about much. It turns out that preparing for a down cycle via hyper-focus on working

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47:40

231: Should You Buy a Franchise?

Wealth Formula Podcast ·

2020/09/27

“Saying yes will get you to a million. Saying no will get you to $100 million.” That’s the advice I once got from a very successful centimillionaire friend of mine. And while, on the surface, it may seem like one of those things rich people say to sound profound, I assure you that the power of no is indeed real. As you may know, I have been a bit of a flaming entrepreneur since leaving surgical residency. I got the bug after reading a Kiyosaki book and from that point forward, I was like one of

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01:01:20

230: The Secret Weapon of the Wealthy!

Wealth Formula Podcast ·

2020/09/20

If you want to be wealthy, do as the wealthy do. The wealthy do not use IRAs and 401Ks to invest in heavy loaded mutual funds. That system is set up to make others wealthy! The ultra-wealthy get a completely different set of options when it comes to investing their money. They often have direct ownerships in businesses and real estate. They may own publicly traded equities, but they are not paying the fees that most people do. The ultra-wealthy also understand the importance of leverage and apply

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37:13

229: Pandemic Got You Down?

Wealth Formula Podcast ·

2020/09/13

People are social animals. We aren’t designed to be wearing masks, not touching each other, and quarantining. Yet for the last six months, that’s been our predicament. At the same time, we are increasing our dependence on digital socializing through social media and have significantly increased our collective screen times and subsequent exposure to toxic blue light at all hours of the day and night. The whole scenario is a perfect set-up for individuals already susceptible to depression or other

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35:31

228: Should you Invest in Hotels?

Wealth Formula Podcast ·

2020/09/06

It is the second week of September—my birthday week. And…as I reflect on the past 12 months, I can’t help but think, “What a shitty year”. The only solace I take in my reflection is knowing how radically things can change over the course of 12 months. The pendulum just needs to move the other way. The good news is that this time next year could, and probably will, look very different. We could be getting on planes to meet up in Dallas for a Wealth Formula meetup. We could be meeting up at the bar,

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42:49

227: Ask Buck Part 3

Wealth Formula Podcast ·

2020/08/30

If you like these “Ask Buck“ shows, you’ve been enjoying the last few weeks. I would love to get some feedback from you as I’m always trying to improve the quality of my content. In the meantime, here is the third and last ask Buck episode of the summer! We will do it again sometime in the fall. Enjoy!

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46:58

225: Ask Buck

Wealth Formula Podcast ·

2020/08/16

We do a lot of interview based content on Wealth Formula Podcast. However, the feedback I get is that the most learning happens during our "Ask Buck" episodes. The good news is that we have a bunch of questions lined up so we will do a couple of "Ask Buck" shows in a row for the next few weeks starting with this one! I also encourage you to go back and listen to older "Ask Buck" shows as well. It's probably the quickest way to get caught up with all of our lingo and the concepts we constantly go

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43:31

224: Multifamily Macroeconomics in the Twilight Zone

Wealth Formula Podcast ·

2020/08/09

“You’re nuts!” That’s what I would say to anyone a year ago who suggested that we would face a global pandemic that would put us in a recession magnitudes greater than 2008 (based on GDP), make all bars and restaurants shut down and cancel professional athletics. I would also think you were nuts if you told me that despite all of this financial destruction, our apartment portfolio would still be performing as well as it is. We truly are living in the Twilight Zone right now. So what happens in the

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38:31

223: Self-Storage and Why Boring is Sexy

Wealth Formula Podcast ·

2020/08/02

There is a phenomenon in finance that I have witnessed first hand that I find fascinating. The best way to explain it is to tell you about a guy I know out here in California who has been very successful as a fund manager. I asked him once about the expectations of his investors and he quickly replied: “5 percent”. Knowing this guy was pretty savvy and could easily produce more than 5 percent for his investors, I said he must be making them pretty happy by outperforming that expectation on a

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46:33

222: The Dollar Milkshake Theory with Brent Johnson

Wealth Formula Podcast ·

2020/07/26

Back in the early 1990s, I was a freshman at Columbia University in New York. Frankly, I wasn’t very interested in the academic part of college at the time. I was too busy doing what a college kid might do after being dropped into Manhattan after going to private school in the midwest. In fact, I realized that college courses were starting to interfere with my nocturnal lifestyle so I started taking an increasing number of evening courses. The evening courses had a lot of older students in them—many

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51:31

221: Average Sucks!

Wealth Formula Podcast ·

2020/07/19

“Be careful what you wish for…lest it come true!" -Aesop’s Fables I remember back in college going to the mail center daily in hopes of finding and acceptance letter to medical school. Back then, I really romanticized the idea of being one of those heroes in a white coat. Fortunately, I got what I wanted and was very excited. The next August I drove to Chicago from my parents home in Minnesota medical school orientation. On the drive, I heard a famous neurosurgeon on the radio (who is now HUD

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